JICA loan for machinery to aid farmers in FY2024-2025

For farmers who wish to purchase agricultural types of machinery in the 2024-2025 fiscal year, more than K30 billion have been allocated under the JICA Two-Step Loan to be disbursed as loans, according to the Myanma Agricultural Development Bank (MADB).
Cooperation between the MADB and the Japan International Cooperation Agency (JICA), the JICA Two-Step Loan will be extended to farmers who want to buy machinery for agricultural and rural development, and under the programme, an individual farmer can receive a maximum loan amount of K70 million and a group of farmers can receive up to K500 million.
Those who want to buy agricultural machinery under the JICA Two-Step Loan must have the ownership of farmland Form 7 in their name, while they need to pledge immovable property along with the endorsement of two financially sound businesspersons.
Farmers who meet these requirements can contact the respective district and township branches of the MADB to apply for the JICA Two-Step Loan, the bank said. — ASH/ZN